Capcora Advises Lithuanian Investment Group: INVL Secures HoldCo Loan For PV Portfolio in Romania And Poland

Frankfurt am Main, Germany - INVL Asset Management (INVL) from Lithuania is investing in renewable energies via the INVL Renewable Energy Fund I. The INVL fund has now received a HoldCo facility totalling EUR 17.5 million from an international debt fund.

This facility will support the capital required for acquiring and building a 482 MW portfolio of solar PV projects in Romania and Poland. The consulting firm Capcora, based in Germany, served as the exclusive financial advisor to INVL in the transaction.

The portfolio of INVL Renewable Energy Fund I comprises PV projects with a capacity of 450 MWp in Romania and 32 MWp in Poland. The total project costs are expected to amount to around 250 million euros. The construction of all solar parks in these countries is expected to be completed by the end of 2025.

The facility was raised at HoldCo level and structured as a loan with a term of two years based on the construction schedule. The funds will be used to cover a portion of the project costs, while the remaining costs will be covered by senior debt, equity contributions and proceeds from potential project sales.

„This strategic funding not only fuels our current projects but also strengthens our position as a leader in sustainable investment," comments Liudas Liutkevičius, Managing Partner of INVL Renewable Energy Fund I, on the financing.

"Facilitating this deal for INVL underscores our commitment to advancing innovative financing solutions, even in countries where financial markets are still developing. This strategic financing is instrumental in advancing major solar projects, and we are thrilled to be a part of this INVL’s journey in Romania," added Alexander Kuhn, Managing Partner at Capcora.

Source: IWR Online, Jun 06 2024